Applying.The only way to get a federal student loan is to file the FAFSA and select an option from your financial aid award letter. Borrowers must submit the FAFSA by a certaindeadlinefor each year that they need help paying for college. However, you can apply for a private student loan ...
such as a parent. that’s because lenders may want extra assurances the loan will be repaid. private loans vs. federal loans federal loans may be a better student loan option than private loans for a variety of reasons. federal loans are typically less expensive than private loans. and feder...
Private Student loans – Everything You Need to Know The federal government allocates as much money as possible each year to help students pay for their college tuition. Unfortunately, with the rising price of education, you cannot always expect your federal loans to cover all of your expenses...
Students and parent-borrowers should exhaust allfederal student loanoptions before applying for private student loans. You should apply for federal student loans even if you don’t think you’ll qualify for federal aid because it’s often a prerequisite for other types of aid. ...
Parent PLUS Loans Available to the parents of dependent undergraduate students, Parent PLUS Loans are an option for individuals who want to help their children pay for college without subjecting them to hefty loan payments. Unlike Direct Subsidized and Unsubsidized Loans, this option takes credit sc...
Before diving into the process of applying for student loans for the Fall 2022 semester, it’s important to understand the eligibility criteria for these loans. Eligibility requirements can vary depending on the type of loan and the lender, but here are some general factors that determine your ...
All federal education loans are eligible for the economic hardship deferment, including Federal Stafford Loans, Federal Perkins Loans, Federal Parent PLUS loans and Federal Consolidation Loans. Borrowers may qualify for the economic hardship deferment by satisfying any of the following conditions: ...
If a student becomes unable to pay for a loan after graduation, the parent must take on that role. Timely payments of monthly balances can strengthen borrowers’ and co-signers’ credit. Missed payments can damage credit for anyone signed onto the student loan. Co-signing can be beneficial ...
Private loans are available regardless of need, and you apply for them using the financial institution's dedicated forms rather than the FAFSA. To obtain a private loan, you must have a good credit rating or get someone with one, such as a parent or other relative, to co-sign. Having le...
To be eligible for a Parent PLUS loan, you must be the biological parent, adoptive parent, or stepparent of an undergraduate student and not have an adversecredit history. Additionally, your child must be enrolled in an eligible degree or certificate program and must be a U.S. citizen or ...